Episode 249: How to Bill Your Tenants for Water Usage with Kelly Koontz

The REI Diamonds Show-Real Estate Investment Podcast

Episode 249: How to Bill Your Tenants for Water Usage with Kelly Koontz

Guest: Kelly Koontz, a seasoned expert in utility submetering solutions tailored for multifamily properties. With over two decades of experience at Submeter Solutions, Kelly has been at the forefront of revolutionizing utility management strategies, empowering property owners to maximize efficiency, enhance property value, and foster tenant accountability. In this episode, Kelly shares invaluable insights into the intricacies of utility submetering, its profound impact on property management practices, and practical strategies for seamless implementation.
Big Idea: At the heart of utility submetering lies a transformative approach to utility management for multifamily properties. By accurately measuring and allocating utility costs to individual tenants, property owners can unlock a myriad of benefits, ranging from significant cost recovery and increased property valuation to fostering a culture of responsible resource usage among tenants. Through the integration of modern metering technology and innovative billing methodologies, utility sub-metering not only optimizes operational efficiency but also empowers property owners to proactively manage utility expenses, mitigate financial risks, and elevate the overall tenant experience.
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Resources mentioned in this episode:
https://SubmeterSolutions.com/
View the Episode Description & Transcript Here:
https://reidiamonds.com/how-to-bill-your-tenants-for-water-usage-with-kelly-koontz/

Kelly Koontz & I Discuss How to Bill Your Tenants for Water Usage:
• Introduction & Financial Impact of Submeter Solutions – 1:01: Kelly delves into the core principles of utility submetering and its role in transforming multifamily property management practices.
• Comparison of Billing Methods – 4:11: Contrasting traditional flat-rate billing, RUBS (Ratio Utility Billing System), and utility submetering, elucidating the advantages of metered billing for property owners and tenants alike.
• Technical Implementation of Submetering Systems – 10:42: Providing comprehensive insights into the technical aspects of utility submetering, from metering equipment selection to connectivity solutions and data management strategies.
• Utility Bill Integration with Rent – 20:59: Exploring lease structures and billing methodologies to prioritize utility payments alongside rent.
• Ideal Clients and Property Types – 29:30: Identifying ideal clients, including self-managing landlords, property managers, and commercial property owners.
• Insurance Premiums & Installation Costs – 45:10: Kelly discusses how insurance premium reductions are linked to active leak detection systems, the logistics and costs of installing sensors in multifamily units, and the growing regulatory and market demand for leak management solutions in water-scarce regions.